Homeplus Withdraws from Convenience Store Business... Focuses on Large Supermarkets and SSM

Homeplus Gangseo Headquarters.

[Asia Economy Reporter Lim Chun-han] Homeplus has completely withdrawn from the convenience store market by discontinuing the '365 Plus' franchise business after more than 10 years.

On the 8th, a Homeplus official said in a phone call with Asia Economy, "We plan to focus on opening Homeplus Express stores (SSM) and expanding fresh and ready-to-eat specialty stores rather than the convenience store business."

Homeplus voluntarily canceled its registration in the Fair Trade Commission's franchise business information disclosure system on the 21st of last month. 365 Plus opened its first store in Daechi-dong, Seoul in 2011, grew to about 390 stores by 2016 at its peak, and then declined. The number of stores decreased to 244 in 2019, 143 in 2020, and 36 in 2021.

Homeplus is increasing investment in offline businesses such as remodeling large marts and opening new Homeplus Express stores. The remodeled stores will be transformed into food-centered stores by adjusting sales spaces to keep pace with rapidly changing consumer patterns. At the end of last year, the existing Express Asset Management Team was renamed the Express New Store Development Team, and new store development tasks were added.

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